RedStone, a modular DeFi oracle, recently addressed false rumors circulating in the industry. The company made it clear that there is no partnership in place with Web3Port or Whisper, contrary to what had been suggested. RedStone emphasized that these entities have no influence on their market activities and have never provided services to RedStone.
The announcement from RedStone came as a response to misleading claims that were made without their consent or knowledge. Despite their efforts to set the record straight, remnants of the false rumors may still be lingering online. It is evident why RedStone would want to distance themselves from Web3Port and Whisper, given the controversies surrounding these entities.
Web3Port and Whisper have been linked to recent issues involving the manipulation of trading volumes and violations of price stability on Binance. While the identity of the market maker behind these incidents has not been officially disclosed by Binance, there are indications pointing to a potential connection to May Liu, who operates Whisper and is associated with incubating Web3 projects through Web3Port.
In contrast, RedStone has established partnerships with reputable firms in the market-making space. Keyrock and Auros, both official partners under RedStone’s Guard Program, provide liquidity across major crypto exchanges and process significant trading volumes annually. These partnerships undergo rigorous onboarding processes to ensure that only top-tier partners are involved.
Despite the false rumors, RedStone’s token RED has shown resilience in the market. The token’s value has increased by 4% daily, 10% weekly, and an impressive 74% over the last month. This indicates that the rumors did not significantly impact RED’s price, or that RedStone took swift action to address the misinformation.
In conclusion, RedStone’s commitment to transparency and integrity in its partnerships sets it apart in the DeFi space. By clarifying the false rumors and maintaining strong relationships with reputable market makers, RedStone continues to demonstrate its dedication to providing reliable oracle services in the decentralized finance ecosystem.